How Should China’s Economy Achieve Potential Growth amid the Secular Stagnation New Normal of Global Economy? by Cai Fang: new.cf40.org.cn/uploads/202009… 1/5
Secular stagnation,the new normal of global economy,and de-globalization are two major external challenges faced by Chinese economy.While the former features low interest rates,low inflation and low growth, the latter is likely to be aggravated by the #COVID19 outbreak. 2/5
In the meantime, China is also facing one of the most severe constraints to economic growth, that is, total population growth will enter the negative territory very soon, which will cause serious shortfall in aggregate demand. 3/5
It is against such a backdrop that China has put forward the “#dualcirculation” development pattern with unleashing domestic demand potential as the main body. To boost demand, … 4/5
… China should continue to actively participate in the global supply chain while circumventing decoupling, be aware of the unsustainable role of investment in bolstering growth and unleash domestic consumption potential, especially that of rural residents &low-income groups. 5/5
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